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10 mistakes which makes a contract void

TOP 10 MISTAKES WHICH MAKES A CONTRACT VOID CONTRACT A contract is a legal agreement between two or more parties through which each of them intends to create one or more legal obligations between them. The contract can be either verbal or written. CONTRACT Offer and Acceptance Intention to be legally bound 4 BASIC ELEMENTS OF A CONTRACT Consideration Mutual Assent MISTAKES WHICH MAKES A CONTRACT VOID Unilateral Mutual Mistake Mistake Relating Mistake to Documents Allocation of Risk Mistake as No Failure to Reach Lack of VOID to Identity Defective Contractual Agreement specificity Contracts Subject Matter Failure to understand Failure to negotiate When can you say the Contract is Void: 1. If the contract is for an illegal act. 2. If the contract is for committing an act against the public policy. 3. If there is a proof that an illegal act occurred to force an individual to sign the contract. 4. If the event written in contract is impossible to execute. Bypassing the planning stage Being a passive participant COMMON Relying on a generic template MISTAKES Combining multiple contracts MADE WHEN Misunderstanding of services and products. NEGOTIATING Relying on unclear breach of contract terms CONTRACTS Omitting conflict resolution procedures Excluding detailed payment terms Accepting the partner's explanation Starting before execution IU IMPORTANT STEPS TO CREATE A SUCCESSFUL CONTRACT Offer and Acceptance 2 Intention to Create Legal Relations 3 4 Lawful Consideration Capacity of Parties 5 6 Free Consent Lawful Object Writing and Registration Certainty Possibility of Performance 10 Not Expressly Declared Void Source: http://enwikipedia.org/wiki/Contract http://www.insitelaw magazine.com/ch12mistake.htm http://www.petfinder.com/pro/for-shelters/contracts-common-mistakes/ http://wiki.answers.com/Q/ Difference_between_a_contract_and_agreement http://law.nus.edu.sg/sjls/artides/SJLS-Dec09-457.pdf http://www.valpak.com/advertise/pdfs/10-Common-Mistakes-Made-When-Negotiating-Contracts.pdf DESIGNED BY: graphs.net www.agreements.org

10 mistakes which makes a contract void

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A contract is a legally formulated document which is formed between two or more than two parties and creates legal obligations between the parties. A contract may either be written or verbal. A contra... ct basically consists of 4 main elements which are offer and acceptance, intention to be legally bound consideration and mutual assent. There are many things which have to be kept in mind while framing a contract because even a little mistake can make a contract void. Some of the mistakes which can make a contract void are mutual mistake, unilateral mistake, allocation of risk, mistakes relating to documents, mistake relating to identity, lack of specificity, failure to reach agreement, defective contracts and failure to negotiate. We can say a contract is void when it is written for an illegal act, when it is for committing an act against the public policy, if the event written in the contract is impossible to execute and if there is a proof that an illegal act occurred to force an individual to sign the contract. While negotiating contracts, one should keep in mind to not combine multiple contracts, not excluding detailed payment terms, not accepting partner’s explanations and not starting before the execution has finished. Read more at : http://www.agreements.org/top-10-mistakes-which-make-a-contract-void.html/ Designed by http://www.graphs.net/

10 mistakes which makes a contract void

10 mistakes which makes a contract void

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